Japan, South Korea seek to negotiate on tariffs before August deadline
SOUTH KOREA, JUL 8 – Japan and South Korea seek to reduce 25% U.S. tariffs starting August 1 amid broader trade tensions involving multiple countries, with negotiations ongoing to ease economic impact.
- Dozens of countries, including Japan and South Korea, face new U.S. tariffs of 25% or more starting August 1, 2025.
- The tariffs follow President Trump’s April announcement and a delay from July 9 to August 1 to allow more negotiation time.
- Japan's lead negotiator Ryosei Akazawa spoke for 40 minutes by phone with U.S. Commerce Secretary Howard Lutnick, aiming to secure advantages for the country's major automobile industry while safeguarding the agricultural sector.
- Stephen Miran, White House economic adviser, remains optimistic about new trade deals if other countries make concessions and EU warns it may retaliate if no fair deal is reached.
- South Korea plans to intensify trade talks aiming for mutually beneficial solutions to mitigate tariff impacts and reduce uncertainty before August 1.
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Japan and South Korea push for U.S. tariff negotiations before August deadline
Ahead of a new August deadline, Japan wants concessions for its large automobile industry, while South Korea plans to intensify trade talks over the coming weeks
·Canada
Read Full ArticleAsia's Economic Titans Negotiate Trump's Tariff Surge
Japan and South Korea seek to negotiate with the U.S. on upcoming tariffs imposed by President Trump, affecting global trade relations. With the deadline set for August 1, both countries aim for favorable terms. Meanwhile, the EU prepares for potential counteractions. Global markets remain cautious as threats persist.
·India
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